PNB chairman Tun Ahmad Sarji Abdul Hamid said this year’s income distribution was 0.8 sen higher from the 5.2 sen per unit declared in 2009.

The income distribution would involve a total payment of RM89.88mil compared with the RM81.52mil paid last year, he told a press conference here.

He said ASN’s performance for the year ending Dec 31, 2010 was generally better than last year in line with the encouraging performance of the country’s economy and the stock market which saw the FBM KLCI index increasing by 18.8% to 1,511.58 points on Dec 24, 2010 from 1,271.78 points on Dec 31, 2009.

During the same period, he said, ASN recorded a gross income of RM112.02mil.

Profit from the sale of shares contributed RM63.07mil or 56.3%, followed by dividend income from investee companies of RM39.18mil or 34.98%.

The remaining RM9.77mil or 8.72% was derived from other investments.

Ahmad Sarji said the ASN income distribution would be calculated based on unit holdings on Dec 31, 2010, which is the last day of the financial year of the fund.

The ASN income distribution payment would be invested automatically and credited into the unitholders’ passbooks based on ASN’s net asset value on Dec 31, 2010, he said.

“The payment will benefit 1.18 million unitholders who currently hold more than 1.5 billion units of ASN,” he said.

All transactions for ASN at the ASNB headquarters, ASNB offices and agents will be suspended from Dec 27, 2010 to Jan 3, 2011.

Unitholders will be able to update their ASN passbooks beginning Jan 3, 2011 at any ASNB offices or ASNB agents nationwide.

ASN is a growth fund launched on April 20, 1981. The objective of this fund is to generate reasonable level of income distribution and capital appreciation to the unit holders through a diversified portfolio of investments.

Meanwhile, PNB president and chief executive officer Tan Sri Hamad Kama Piah Che Othman said the stock market was forecast to perform better next year compared to this year.

“Market experts expect the stock market to be better next year index-wise. The FBM KLCI index is expected to surpass 1,600 points next year,” he said.

“The income distribution portion will involve a total payout of RM5.93bil by ASNB, an increase of 22% compared with the RM4.86bil paid last year while the bonus portion payment for this year is RM603.34mil,” he said yesterday when announcing the income distribution.

Ahmad Sarji said that up to Dec 17, ASB had recorded a gross income of RM6.58bil with dividend income from investee companies contributed RM3.27bil or 50% of the gross income. Profit from the sale of shares contributed RM2.78bil or 42%.

Tun Ahmad Sarji Abdul Hamid announcing the income distribution at the event.

“The rest of the income at 8% or RM0.53bil was derived from investment in short-term instruments and other investments,” he said, adding that the payment would benefit 7.04 million unit holders, currently holding more than 82.72 billion units of ASB.

He added that the income distribution and bonus would be automatically credited into the respective unit holder’s accounts and they would be able to update their accounts beginning Jan 3, 2011.

DR Doom is not always so gloomy at least not so lately. After all, he has said before that he is no perma-bear.

And he proves that with his latest forecasts that comes with a somewhat brightened outlook for next year.

Nouriel Roubini the famous economics professor from New York University who earned the nickname Dr Doom for his often-depressing outlook on the economy has got some glad tidings to dish out this time.

This is more than just because Christmas is around the corner; recent economic trends and data do seem to point to a more positive, albeit still risky, outlook for 2011.

To see how Roubini’s outlook has brightened within just a span of two months, consider his projection in October of a 40% chance of a double-dip recession for the US economy in 2011.

His latest diagnosis finds that the risk has since diminished substantially to around 15%-20% now, thanks to the new stimulus measures undertaken by US policymakers, including the much-debated second round of quantitative easing, or QE2.

Roubini has also upgraded his 2011 growth forecast for the world’s largest economy to 2.3% from less than 2% previously.

He is also certain that growth for the global economy next year will remain intact only that it will be marginally weaker compared with 2010. And in any case, risks to the global economy will come mainly from economies in the euro zone due to their mounting debt problems.

The bottom line is, this Dr Doom actually prefers the tag Dr Realist, because, as he points out, his projections have always been based on actual trends and data; he is not deliberately gloomy for the sake of eccentricity.

Roubini’s analysis of the global economic landscape this time is somewhat in line with the general consensus.

According to recent predictions made by some of the world’s leading financial institutions, such as UBS, Nomura, Deutsche Bank and Morgan Stanley, global growth next year would likely range between 3.7% and 4.3%, down from the predicted average growth rate of 4.8% for 2010.

The two-track recovery will continue in 2011, with emerging economies leading the way with a growth rate of at least 6%, compared with the projected average growth rate of a mere 2% for advanced economies.

Amanah Hartanah Bumiputera (AHB)

A fund that seeks to provide Unit Holders with a regular and consistent income stream whilst preserving the Unit Holders’ investment capital

Fund type / Category:
Income

Min initial investment:
500 units

What is Amanah Hartanah Bumiputera?

A Shariah Compliant Unit Trust

An opportunity to benefit from rental income of prime commercial properties.

Investment Objective

The Fund seeks to provide Unit Holders with a regular and consistent income stream whilst preserving the Unit Holders’ investment capital

Investment Strategy

The Fund will seek to achieve its investment objective by investing primarily in the beneficial ownership of real estate in Malaysia from the Sponsor in particular commercial properties including but not limited to office buildings, shopping complexes, commercial centres, logistics and industrial complexes. The Fund will also invest in Shariah-compliant money market instruments and equivalent instruments and hold cash to meet its liquidity requirements